Casinos in Macau reported $2.6 billion in revenues for the month which is a rise of 18% from the same period in 2016, most analysts’s had revenues rising at 12% to 16% so operators beat the highest of those expectations with VIP activity helping the numbers for March.
Over the past two years Macau suffered from falling revenues from 2014 to the middle of 2016 following the Chinese government’s crackdown on money laundering and corruption on the mainland which heavily affected VIP business in Macau and only over the second half of 2016 has operators there seen a return to previous revenues, however analyst’s still predict that VIP business will be volatile over the coming year or so and casinos should not rely on that business so heavily for its revenues to continue to grow.
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